Florida AG Targets JPMorgan Over Trump Debanking, Jack Smith Collusion

Authored by Luis Cornelio via Headline USA,

Florida Attorney General James Uthmeier launched a state investigation Monday into JP Morgan after the bank abruptly closed the accounts of President Donald Trump’s media company in 2024.

Uthmeier announced the probe in a video statement on X and in a letter to JP Morgan CEO Jamie Dimon, affirming the financial institution may have violated multiple criminal and civil anti-fraud laws as well as prohibitions against de-banking.

“Rest assured, this office will be investigating to ascertain the nature of these secret and suspicious circumstances,” Uthmeier wrote in the letter, confirming that the Office of Statewide Prosecution and Enforcement Division would handle the matter “immediately.”

Here is our preservation notice to JP Morgan Chase: https://t.co/SrQ0n8gOEF pic.twitter.com/1nfFuXE5Ow

— Attorney General James Uthmeier (@AGJamesUthmeier) November 10, 2025

The state investigation follows revelations from declassified FBI documents revealing that JP Morgan began scrutinizing Trump Media & Technology Group Corp, a Florida corporation, in 2023.

The timing coincided with subpoenas from then-Special Counsel Jack Smith, who had been directed by Attorney General Merrick Garland to investigate Trump after the 2020 election.

JPMorgan then reportedly pressed TMTG for transaction details dating back years, raising concerns that the bank’s inquiries were “pretextual,” Uthmeier wrote.

JPMorgan “insisted this fact-gathering was merely ‘due diligence,’” the Florida attorney general added. “These inquiries, however, appear to be pretextual and unrelated to their stated purpose.”

Shortly after TMTG closed a merger in March 2024, JPMorgan terminated the corporation’s bank accounts.

“The timing of this activity and JPMC’s termination of its business relationships with TMTG raise obvious, troubling questions,” Uthmeier stated.

He also ordered JPMorgan to “initiate a litigation hold to preserve all documents and records (in all formats) that may be relevant to this matter.”

Debanking became a common tactic for major financial institutions targeting Republicans, particularly those tied to Trump after the 2020 election.

These actions followed widespread Big Tech censorship, including efforts aimed at shutting down Trump, some of which later resulted in multi-million-dollar settlements.